Using Jobs is a great way to separate out and report on different Divisions, Departments or Cost centres in MYOB. However, if you also want to maintain monthly Budgets it is not possible to maintain them and report on Actuals v Budgets from within MYOB.
Using BI4cloud Business Intelligence you are now able to enter Monthly Job budgets into BI and then easily report on Actuals v Budgets using BI4Cloud over any time period. This feature is available in the Enterprise 5 User (Cool Stuff) version.
This article covers:
- Quick Video Overview
- Enter or Import Monthly Job Budgets
- Create Monthly Job/Divisional Budget Reports
Quick Video Overview
Enter or Import Monthly Job Budgets
Login to BI as the main BI Account Admin User.
To get help from a BI Expert to setup Budgets in BI - Book a BI Consulting Appointment
1. Click on the Cool Stuff button.(Available in Enterprise 5 user version)
2. Select "Job Budgets create Monthly Divisional budgets".
3. The Job Budgets screen will display all of your Active Jobs. Jobs will display under Job Headers (See Using Job Headers to Organise Jobs)
4. Choose the Financial Year you are budgeting for, this will create a new Budget Session
e.g. 2024 Budgets.
5. Click on the Edit icon next to 2024 Budgets to Configure a New Budget Session
-
Select Jobs to budget for
- Use the Filters (Funnel icon) to find Jobs or groups of Jobs then tick to select
- Click Save
- Click Finished Editing
-
Select P&L Accounts to budget for
- Use the Filters (Funnel icon) to find P&L Accounts or groups of Accounts then tick to select
- Click Save
- Click Finished Editing
6. Export Job Budget Template to Excel
Select Export Type
- As Rows (One Job/account per row) - use when large number of Jobs
- As Sheets (One Job/account per worksheet) - use when small number of Jobs
7. Enter Budget Amounts
- Enter Budgets into the Green shaded section only
- Budgets will display as whole numbers but can be entered including cents or as formulae
- Revenues are Positive
- Costs/Expenses are Positive
(Note this is how Regular Job Budgets are entered into MYOB so we have kept it the same). - Do Not add or change any rows or columns in the Budget Template
- Save the spreadsheet
8. Import Budget spreadsheet
- Click Import and select saved budget spreadsheet
- This new Budget Session will overwrite any existing budgets in these Jobs/Accounts
- Click Cancel to Exit
9. Check and Edit Individual Budgets
To Check and Edit Individual Job Budgets
- Click on the word Budgets next to the Budget Amount displayed
- Toggle Hide Zero Movements button to see only accounts with budgets entered
- Check Profit/(Loss) row displayed is correct
- Click any amount to Edit
- Click Save
10 . Click Save & Exit to Sync the Job Budgets to your BI reports and Exit back to the Admin screen.
It is not necessary to Refresh your MYOB data to be able to see the Period Budgets in your BI reports.
Create Monthly Job/Divisional Budget Reports
BI4Cloud allows you to create a variety of very flexible Job / Divisional P&L reports. Depending on your business, the number of Jobs/Divisions and P&L accounts you run and the depth of your data you will want to present in different ways.
Following are just a few examples of different report styles and layouts that you can easily customise and save using BI4Cloud.
1. P&L Pivoting by Job Header / Divisions as Columns
Job Headers/Divisions are shown as Columns.
- Full P&L of each Division over one date range
- See how each Division is performing to Budget
- Compare how each Division is performing against other Divisions
- See how each P&L account is broken up by Division
Each Division column is a sum of all of the individual Jobs under each Job Header.
This Report could instead be setup to run showing individual Jobs as columns and just filtered for one or more Job Headers/Divisions if you have a large number of individual Jobs.
2. Classic Month End Divisional P&L - Month to Date v Year to Date
This is a classic month end P&L filtered for one Job Header/Division showing:
- Month to Date this Year v Last Year
- Year to Date this Year v Last Year
- Actual v Budget with Variances
- Columns can be re-ordered or removed
3. Monthly P&L Summary by Job Header / Division
Total Income and Total Expenses are broken down by the Job Header/Division as rows, pivoting by months as columns and showing Actual v Budget. This is a great compact report to see in one snapshot:
- Which Division is contributing the most Income and Profit
- How each Division is performing against budget
- How each Division is performing across months
- Drill down on any number to see the detailed accounts and transactions.
By Showing the Metrics (Actual v Budget) on separate rows instead of as separate columns this makes it easier to run your eye across the months and see trends, it also keeps the report to 12 columns instead of growing to 24 (one each for Actual and Budget).
4. Monthly Detail P&L Filtered for One Division
Full P&L for one Division, pivoting by months as columns and showing Actual v Budget. This is a great report to see in one snapshot:
- Full P&L for one Division (Pool Shops)
- See how each account is going against Budget
- See each account is going across months
- Drill down on any number to see the detailed transactions.
By Showing the Metrics (Actual v Budget) in separate columns instead of as separate rows (as above) this makes it easier to run your eye up and down each month and see which accounts are over or under budget in any given month.